3 Best Empower Mutual Funds to Buy for Solid Returns

Zacks Equity Research

15 August 2023 at 7:52 am·4-min read

Investing in Empower mutual funds presents a compelling opportunity for both novice and seasoned investors alike. With a rich history spanning over three decades, Empower mutual funds offer a diverse selection of over 50 mutual funds, catering to various asset classes and investment strategies, ranging from active to passive management, target date to target risk funds, and more.

Empower Capital Management's impressive track record of overseeing over $120 billion in assets assures investors of expert guidance. Their meticulous due diligence process, coupled with strategic partnerships with esteemed investment managers, guarantees consistent performance and a trusted guardianship over one's investments. Whether seeking a secure path to retirement goals or aiming for diversified growth, Empower mutual funds stand out as a reliable and rewarding choice in the competitive investment landscape.

Nonetheless, investing in Empower mutual funds seems prudent as of now. Also, mutual funds, in general, diversify portfolios without several commission charges that are mainly associated with stock purchases and trim transaction costs (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).

We have, thus, chosen three Empower mutual funds that investors should buy now for the long term. These funds have a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), positive three-year and five-year annualized returns, minimum initial investments within $5000 and expense ratios considerably lower than the category average. So, these funds have provided a comparatively stronger performance and carry a lower fee.

Empower Small Cap Value Fund MXLSX invests in equity securities of small-cap companies. MXLSX advisors categorize small-cap companies based on their market capitalization, aligning with the range defined by the Russell 2000 Value Index during the initial acquisition.

Joseph R. Gatz has been the lead manager of MXLSX since Dec 30, 2000. Most of the fund's holdings were in companies like Rambus Inc. (1.4%), Weatherford International plc (1.2%) and Vontier Corp (1.1%) as of Mar 31, 2023.

MXLSX's 3-year and 5-year annualized returns are 19.3% and 7%, respectively. Its net expense ratio is 1.09% compared with the category average of 1.16%. MXLSX has a Zacks Mutual Fund Rank #1.

To see how this fund performed compared to its category, and other 1 and 2 Ranked Mutual Funds, please click here.

Empower T. Rowe Price Mid Cap Growth Fund MXMGX invests in equity securities of mid-cap companies. MXMGX advisors classify mid-cap companies based on their market capitalization, adhering to the range specified by the Russell Midcap Growth Index at the time of the initial purchase.

Brian W.H. Berghuis has been the lead manager of MXMGX since Jun 30, 1997. Most of the fund's holdings were in companies like Microchip Technology Inc (3.1%), Hologic, Inc. (3%) and Ingersoll Rand Inc. (2.4%) as of Mar 31, 2023.

MXMGX's 3-year and 5-year annualized returns are 7.4% and 8.7%, respectively. Its net expense ratio is 1.02% compared with the category average of 1.09%. MXMGX has a Zacks Mutual Fund Rank #2.

Empower SecureFoundation Balanced Fund MXSHX invests its assets in underlying funds that focus on equity securities and others that predominantly target fixed-income securities. Its focus lies on underlying funds tailored to mirror the performance of specific securities indices.

Maria L. Mendelsberg has been the lead manager of MXSHX since Apr 29, 2018. Most of the fund's holdings were in companies like Great West Bond Index Fund (34.4%), Great West S&P500 Index (21.1%) and Great West International (14.1%) as of Mar 31, 2023.

MXSHX's 3-year and 5-year annualized returns are 5.2% and 5.2%, respectively. Its net expense ratio is 0.53% compared to the category average of 0.84%. MXSHX has a Zacks Mutual Fund Rank #2.

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